AdaptHealth (NASDAQ:AHCO) Trading 3.4% Higher – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO) was up 3.4% during mid-day trading on Wednesday . The stock traded as high as $10.43 and last traded at $10.38. Approximately 218,281 shares traded hands during trading, a decline of 63% from the average daily volume of 583,790 shares. The stock had previously closed at $10.04.

Analyst Ratings Changes

Several research firms recently issued reports on AHCO. Robert W. Baird dropped their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada cut their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Canaccord Genuity Group lowered their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Truist Financial lowered their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, UBS Group dropped their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AdaptHealth currently has a consensus rating of “Buy” and a consensus price target of $12.40.

AdaptHealth Stock Up 0.4 %

The stock has a market cap of $1.36 billion, a P/E ratio of -6.15, a price-to-earnings-growth ratio of 1.36 and a beta of 1.09. The stock’s 50-day moving average is $9.86 and its 200-day moving average is $10.32. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. AdaptHealth’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, research analysts anticipate that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AdaptHealth

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in shares of AdaptHealth by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company’s stock worth $7,462,000 after purchasing an additional 20,599 shares during the period. Rhumbline Advisers raised its holdings in AdaptHealth by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 271,033 shares of the company’s stock worth $2,710,000 after buying an additional 3,498 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of AdaptHealth in the second quarter worth about $151,000. Quest Partners LLC boosted its holdings in shares of AdaptHealth by 11,522.7% in the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after buying an additional 10,140 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in shares of AdaptHealth by 11.9% in the second quarter. Texas Permanent School Fund Corp now owns 79,704 shares of the company’s stock worth $797,000 after acquiring an additional 8,503 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.